related

“People from Asian countries are very interested in the Vancouver area real estate market at the moment,” George says. “There are a number of reasons for that.”

“Because of the weak Canadian dollar and the relatively strong Asian currencies, they find the housing investment opportunities attractive in Canada,” he explains. “Also, in many cases, parents in Asian countries have children studying in Canada and these students need to pay $2,000 or more per month for accommodation. Buying a house gives their children a good place to live and, as the market rises, provides a good rate of return on their investment.”

The third reason for the interest in the Vancouver real estate market, according to George, is that the federal government changed visa rules to allow citizens of China to apply for 10-year multiple-entry visas.

“Now it is easier for citizens of China to come to Canada and buy properties without becoming immigrants,” George says. “Real estate investment is always a priority for my Asian clients and so they come here as visitors and find that investing in the Vancouver market is a better investment than buying in their home markets.”

With lawyers able to communicate in English, Mandarin, Cantonese, and Korean, George Lee Law Corporation is well positioned to help Asian clients navigate Canadian real estate and mortgage issues.

“Asian clients come here with cash and are able to buy million dollar properties,” says George. “Because of the weak Canadian dollar, offshore residents can purchase a house for about 20% less than they could in their home country.”

In other words, there’s no mystery behind why Asian investors want to buy into the Canadian housing market.

“Everyone, whether Asian or Canadian, is simply looking for a good investment vehicle,” George says.

For more information on George Lee Law Corporation and their real estate conveyancing services, check out their website at www.gleelaw.com, call 604-681-1611, email info@gleelaw.com, find them on Facebook or visit their offices (Burnaby office: 608-4538 Kingsway, Burnaby / Richmond office: 1025-4000 No. 3 Road, Richmond).